Official Result (MOF)
| Auction Date | 1981-01-12 |
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| Issue Date | 1981-01-27 |
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| Issue | JGB (4-Year) No. 4（new） |
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| Coupon (%) | 7.9% |
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| Maturity | 1985-01-21 |
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| Method | price conventional |
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| Offering | ¥150B |
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| Competitive Bids | ¥168.2B |
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| Accepted Amount | ¥117.3B |
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| Lowest Accepted Price | 98.35（8.453%） |
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| Weighted Avg Price | 98.39（8.437%） |
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| Allotment Ratio | — |
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| Non-competitive I | — |
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| Non-competitive II | — |
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Source: https://www.mof.go.jp/jgbs/reference/appendix/jgb_historical_data.xls
Derived Metrics calc auction-v1 / auction-v2
| This | Prev | avg (12) | min | max | z |
|---|
| Bid/Cover | 1.43 | 2.38 | 4.66 | 2.38 | 6.94 | — |
| Tail (sen) | 4 | 8 | 14 | 8 | 21 | — |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | — | (z(B/C) − z(tail))/2 bucketed A(≥1)/B(≥0.3)/C/D(≤−0.3)/E(≤−1), vs last 12 same-tenor |
| Yield tail (bp) | 1.6 | 2.6 |
Same-tenor Auction History
| Auction Date | Issue | Bid/Cover | Tail (sen) | Avg Yield (%) |
|---|
| 1981-01-12 | JGB (4-Year) No. 4 | 1.43 | 4 | 8.437 |
| 1980-07-07 | JGB (4-Year) No. 3 | 2.38 | 8 | 8.364 |
| 1980-06-02 | JGB (4-Year) No. 2 | 6.94 | 21 | 8.087 |